Is there a name for ([highest value] + [lowest value] / 2)? That's not the mean, median, or mode (unless you only have two members in the set you're measuring). But it seems like that's some kind of "average" in a sense that might be useful on some occasions.

It's also the antithesis of the Winsorised value, a potentially problematic (composite) value to which Winsorising is the solution and a solution to some of the potential problems of the Winsorisish issues. Mathematically, it's interesting to observe as the key to the recursive offset each time you progressively clip extremes off the sequence to see what sort of curve you get betwixt mean (or, in some odd cases, mode) and median. Which can sometimes tell you things about the set generation, alongside analyses for Benford's Law, etc.

Soupspoon wrote:it's interesting to observe as the key to the recursive offset each time you progressively clip extremes off the sequence to see what sort of curve you get

Sounds like you want a violin plot. Or a viola plot.

Jose

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While we're at it, nobody seems to have mentioned that the technical term for what Pfhorrest calls an "average" is a "measure of central tendency," and there are many such examples, a few of which are listed in the corresponding Wikipedia article.